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Long Term Care - Selling your home gives you many options
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Long-Term Care Home    |    Steps to Choosing Long-Term Care    |    Types of Long-Term Care    |    Paying For Long-Term Care

Paying For Long-Term Care
  Overview Government Programs Private Insurance Home Equity Other Options Resources  
  Home Equity Conversions (Reverse Mortgages) | Reverse Annuity Mortgages 
 | Right Arrow Selling Your Home and Moving | Continuing Care Retirement Communities (CCRC) | Top Ten Things to Know About Reverse Mortgage 
 

Selling your home gives you many options. This allows you to move anywhere you want to. You may want to buy a smaller home, condo, or move a retirement community. If you sell your home and have any money left over, you can buy investments to continue your income. You may also want to use the money you have left over to pay for your long-term care needs or to buy a long-term care insurance policy.

Listed below are some opportunities and requirements/limits for selling your home and moving:

Selling Your Home and Moving Opportunities: Selling Your Home and Moving Requirements/Limits:
The money you get from selling your home can be used for your long-term care needs or to buy a long-term care insurance policy. It may be hard for you to sell your home.
You can move anywhere you want to. You might not be able to leave the “family” home to your heirs (family or friends).
  The money you get from selling your home might not be enough to pay for your long-term care needs.
  You might not be able to sell your home at the best time for you. For example, the home market might not be good for sellers or interest rates may be too high.

Page Last Updated: July 2, 2007

Source: http://www.medicare.gov/LongTermCare/Static/SellingYourHome.asp


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